Highlights from the latest reverse circulation (RC) drilling assays at Weednanna Target 4 featured 4 metres at 11.6 g/t gold from 76 metres.
These results reinforce Weednanna as a high-grade gold system, following up other recent results including 16 metres at 3.2 g/t from 84 metres and 12 metres at 10.2 g/t gold from 92 metres.
Alliance managing director Steve Johnston said: “The results from the latest round of drilling at Target 4 strengthens our view that Weednanna is a high-grade gold system with potential for economic development.
“With this in mind, we are working towards a maiden mineral resource estimate in the current quarter and leading to a scoping study in 2H 2018.”
15 of the 22-hole program intersected over 1 g/t gold
The 22-hole RC program completed in March comprised of 19 holes at Target 4 and 3 holes to initially test Target 5.
Of the 22 holes drilled, 15 holes intersected over 1 g/t gold including 3 holes that intersected over 50 g/t gold.
The recent drilling confirmed a new Target 5 lode with a best intercept of 8 metres at 2.2 g/t gold from 164 metres.
Further RC drilling planned in 2018
Further RC drilling is planned in 2018 to define the limits of gold mineralisation at Targets 4 and 5 and to test new target areas.
Importantly, drilling will work towards establishing a maiden mineral resource estimate in the first half of 2018.